Textbook Notes (368,252)
Canada (161,740)
MGMA01H3 (184)
Aggrawal (13)
Chapter 9

Ch. 9 and 10 Notes

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Department
Management (MGM)
Course
MGMA01H3
Professor
Aggrawal
Semester
Winter

Description
April 24, 2011 4:28 PM W7.Ch9&10 Ch10:NewProductDevelopmentProcess 1. Idea Generation: The search for new product ideas a. Internal Idea Sources: The company can generate ideas through formal R&D or em- ployee involvement b. External Idea Sources: The company can obtain ideas from suppliers, competitors, trade magazines, shows, marketing firms and customers 2. Idea Screening: Select the possible ideas developed from idea generating process 3. Concept Developing and Testing: Product Concept: Detailed version of the idea stated in a meaningful consumer terms Product Testing: 4. Marketing Strategy Development: Designing an initial marketing strategy for a new prod- uct based on the product concept First part consists of a forecast of
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